{"id":7470,"date":"2022-02-20T11:14:30","date_gmt":"2022-02-20T18:14:30","guid":{"rendered":"https:\/\/calgaryhomepros.com\/?p=7470"},"modified":"2022-05-01T12:56:53","modified_gmt":"2022-05-01T18:56:53","slug":"letters-of-reprimand-december-21-february-17-2022","status":"publish","type":"post","link":"https:\/\/calgaryhomepros.com\/letters-of-reprimand-december-21-february-17-2022\/","title":{"rendered":"Letters of Reprimand (December 21 – February 17, 2022)"},"content":{"rendered":"\n

Real Estate Act Rules s.41(b)<\/h2>
<\/div><\/div>

A real estate licensee must provide competent service.<\/p><\/div>\n\n\n\n

1. John Doe<\/h4><\/div><\/div>\n\n\n\n

Mortgage Associate registered at the time of conduct with The Mortgage Alliance Company of Canada Inc. o\/a Mortgage Alliance. Currently registered with 1170245 Alberta Inc. o\/a Dominion Lending Centres Global<\/p>\n\n\n\n

  • Between August 2016 and July 2017, John was approached by three separate clients for their assistance in obtaining financing for three separate properties<\/li>
  • John\u2019s clients engaged John to act as their mortgage broker to obtain financing for the purchase of the properties and provided John with documents relating to their employment and finances to assist with the applications<\/li>
  • John failed to review the documents presented and in turn missed inconsistencies relating to employment and income<\/li><\/ul>\n\n\n\n

    Learning Opportunity:<\/h4><\/div><\/div>\n\n\n\n

    Licensees must be competent in all areas in which they provide services. In this case, the licensee should have ensured they were reviewing all documents they were provided by their clients to ensure accuracy. The licensee failed to review the documents and in turn missed inconsistencies related to the documents. Failing to note the inconsistencies put both the clients and the lenders interests at risk.<\/p>\n\n\n\n

    Real Estate Act Rules s.41(b)<\/h2>
    <\/div><\/div>

    A real estate licensee must provide competent service.<\/p><\/div>\n\n\n\n

    1. John Doe<\/h4><\/div><\/div>\n\n\n\n

    Real estate associate registered at the time of conduct with Dynafour Real Estate Limited o\/a Cushman and Wakefield Edmonton. Currently licensed with Colliers Macaulay Nicholls Inc. o\/a Colliers International<\/p>\n\n\n\n

    • In April 2017, a client discussed with John a commercial property that they were interested in purchasing<\/li>
    • The client requested John obtain the rent roll and appraisal for the property so they could make an informed decision<\/li>
    • At that time, John advised their client there was no rent roll or appraisal to provide<\/li>
    • The client later advised John that they would not be willing to purchase the property at the quoted amount of $18,000,000 but requested the rent roll and appraisal so they could see what the numbers would work out to<\/li>
    • In late May 2017, John received a rent roll and appraisal from the sellers<\/li>
    • John failed to follow up with their client to determine if they were still interested in reviewing these documents<\/li><\/ul>\n\n\n\n

      Learning Opportunity:<\/h4><\/div><\/div>\n\n\n\n

      Licensees must always give the best possible service and advice to their clients. In this case, the licensee failed to provide their client important information, which they had requested on multiple occasions. By failing to provide the information to their client they deprived the client of an opportunity to make an informed decision on whether to make an offer to purchase.<\/p>\n","protected":false},"excerpt":{"rendered":"

      Real Estate Act Rules s.41(b) A real estate licensee must provide competent service. Mortgage Associate registered at the time of conduct with The Mortgage Alliance Company of Canada Inc. o\/a Mortgage Alliance. Currently registered with 1170245 Alberta Inc. o\/a Dominion Lending Centres Global Between August 2016 and July 2017, John was approached by three separate…<\/p>\n","protected":false},"author":28,"featured_media":7471,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_kadence_starter_templates_imported_post":false,"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[26,16],"tags":[33],"gutentor_comment":0,"acf":[],"uagb_featured_image_src":{"full":["https:\/\/calgaryhomepros.com\/wp-content\/uploads\/2022\/02\/pexels-suzy-hazelwood-1768060.jpg",1280,720,false],"thumbnail":["https:\/\/calgaryhomepros.com\/wp-content\/uploads\/2022\/02\/pexels-suzy-hazelwood-1768060-150x150.jpg",150,150,true],"medium":["https:\/\/calgaryhomepros.com\/wp-content\/uploads\/2022\/02\/pexels-suzy-hazelwood-1768060-300x169.jpg",300,169,true],"medium_large":["https:\/\/calgaryhomepros.com\/wp-content\/uploads\/2022\/02\/pexels-suzy-hazelwood-1768060-768x432.jpg",768,432,true],"large":["https:\/\/calgaryhomepros.com\/wp-content\/uploads\/2022\/02\/pexels-suzy-hazelwood-1768060-1024x576.jpg",1000,563,true],"1536x1536":["https:\/\/calgaryhomepros.com\/wp-content\/uploads\/2022\/02\/pexels-suzy-hazelwood-1768060.jpg",1280,720,false],"2048x2048":["https:\/\/calgaryhomepros.com\/wp-content\/uploads\/2022\/02\/pexels-suzy-hazelwood-1768060.jpg",1280,720,false]},"uagb_author_info":{"display_name":"shanulqadir","author_link":"https:\/\/calgaryhomepros.com\/author\/shanulqadir\/"},"uagb_comment_info":0,"uagb_excerpt":"Real Estate Act Rules s.41(b) A real estate licensee must provide competent service. Mortgage Associate registered at the time of conduct with The Mortgage Alliance Company of Canada Inc. o\/a Mortgage Alliance. Currently registered with 1170245 Alberta Inc. o\/a Dominion Lending Centres Global Between August 2016 and July 2017, John was approached by three separate...","_links":{"self":[{"href":"https:\/\/calgaryhomepros.com\/wp-json\/wp\/v2\/posts\/7470"}],"collection":[{"href":"https:\/\/calgaryhomepros.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/calgaryhomepros.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/calgaryhomepros.com\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/calgaryhomepros.com\/wp-json\/wp\/v2\/comments?post=7470"}],"version-history":[{"count":3,"href":"https:\/\/calgaryhomepros.com\/wp-json\/wp\/v2\/posts\/7470\/revisions"}],"predecessor-version":[{"id":9212,"href":"https:\/\/calgaryhomepros.com\/wp-json\/wp\/v2\/posts\/7470\/revisions\/9212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/calgaryhomepros.com\/wp-json\/wp\/v2\/media\/7471"}],"wp:attachment":[{"href":"https:\/\/calgaryhomepros.com\/wp-json\/wp\/v2\/media?parent=7470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/calgaryhomepros.com\/wp-json\/wp\/v2\/categories?post=7470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/calgaryhomepros.com\/wp-json\/wp\/v2\/tags?post=7470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}